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The posters urge anyone seeking an escort after withdrawing cash to ring a dedicated Safer Neighbourhoods phone number, stressing that 'appointments can be made and are a preference'.

They state: 'If you are withdrawing money from a cash machine, bank or post office, please contact a member of your local (Safer Neighbourhoods) team to escort you on foot to your home.

'Escorts from the police can only be made from the bank, and then you will be escorted STRAIGHT HOME on foot, unfortunately the police cannot do your shopping with you.'

Met statistics show the Wanstead and Snaresbrook areas have an average level of robberies compared with other areas of the capital. There was one business robbery and four personal robberies in March, the last month for which statistics were available.

A cash machine in Wanstead yesterday, where users can request a police escort

One borough officer said the service was not set up because of a high risk of being mugged but as an 'extra'.

She said: 'As long as you live locally we will walk home with you. We won't get into a car.

'We are not doing anything out of the ordinary. If you want us to walk you home we are still doing our normal police work and we will be behind you.'

Michelle Mitchell, of Age Concern and Help the Aged, said: 'Many older people can end up isolated and unwilling to leave their homes because of a fear of crime, even if crime levels are relatively low. It is important for the police to engage with communities to make people of all ages feel secure.'

But Metropolitan Police Authority member Jenny Jones said: 'I'm astonished that they think they have enough officers to do this.

'It seems to give out the message that it's not safe to walk the streets while carrying cash, which is nonsense as we all go out with money on us. When I heard about this I thought it was some kind of joke as it smacks of absurdity.'

And Tory MP Ann Widdecombe said: 'If they've got all these officers to do that, then why are they not spending more resources in arresting drug dealers?

Safer Neighbourhoods teams, which usually consist of a sergeant, two constables and three community support officers, cover every electoral ward in London. They were implemented to tackle local crime including anti-social behaviour and street robberies.

Scotland Yard defended the police escort scheme, saying: 'The initiative, which has been running for five months, is an extension of the team's normal duties, increasing police visibility in the area.'

A spokesman said there is no additional cost because it is 'part of the normal tour of duty'.